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San Antonio, TX, United States, 2005/04/18 - New strategic analysis from Frost & Sullivan, Strategic Analysis of World Mechanical Ventilator Markets, reveals that revenue in this market totaled $747.5 million in 2003 and projects to grow at a rate of 4.6 percent till 2008..
As manufacturers face increasingly saturated markets for ventilators; new avenues for growth are opening up in developing nations such as Indonesia, Argentina, and Taiwan.
This change in demand patterns – geographic and otherwise – is partially triggered by developing nations moving away from being markets for refurbished/pre-owned equipment. Prompted by concerns over safety and the falling standards due to the recent SARS epidemic, buyers are opting for new equipment.
New strategic analysis from Frost & Sullivan, Strategic Analysis of World Mechanical Ventilator Markets, reveals that revenue in this market totaled $747.5 million in 2003 and projects to grow at a rate of 4.6 percent till 2008.
If you are interested in a virtual brochure that provides manufacturers, end users, and other market participants with an overview of the latest analysis of the Strategic Analysis of World Mechanical Ventilator Markets, e-mail Danielle White, Corporate Communications at dwhite[...]frost.com with the following information: your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the requisite information, an overview will be sent to you via e-mail.
The purchase criteria in the mechanical ventilators market are also changing. Buyers are placing greater emphasis on service, support and product design instead of prices and brand names.
Local vendors in nations such as Brazil and China are benefiting immensely from these changing concerns since they are nimble-footed enough to focus on individual consumer needs. With an ability to penetrate neighboring markets, these manufacturers are posing a mounting threat to the larger multinational companies (MNCs).
“Customers from developing countries – that typically have low awareness and purchasing power – trust local companies to provide better after-sales support,” explains Frost & Sullivan Research Analyst Vanita Khetan. “This may compel MNCs to scale down prices to an extent where there is conflict among geographies or a dilution of the brand equity.”
To match this new threat and as attention shifts toward smaller lighter models, MNCs must also offer enhanced product designs to effectively combat competition and for capturing and retaining market share. Intelligent maneuvering of product design and product management can allow manufacturers to counter this threat.
Leading global participants are further affected by the sudden influx of the low-cost ventilators offered by domestic manufacturers in nations such as Brazil.
“Indigenous manufacturers are offering cheap models wherein research and development (R&D) investments are close to nil. Only the need to recover capital investments exists,” says Khetan. “This has a positive impact on the market despite the threat posed to leading participants.”
To gain a foothold in emerging markets, MNCs must work toward enhancing customer relationships and developing affordable models that fulfill the demands of developing nations.
Intelligent maneuvering of product design and management are also expected to enable MNCs to combat the price pressure from local manufacturers.
Overall, there are numerous revenue maximization opportunities for both local manufacturers and MNCs in the ventilators market given the escalating incidence of respiratory diseases and the opening up of new geographical markets. The homecare and acute care sectors are expected to be high growth segments in the near future for both the traditional and developed markets.
The Strategic Analysis of World Mechanical Ventilator Markets is a part of the Medical Device subscription and offers vital information on mechanical ventilator markets across the globe. It studies market trends and their impact on the business and analyzes the product life cycles and growth rates.